Benefits
The largest component of OASDI is the payment of retirement benefits. Throughout a worker's career, the Social Security Administration keeps track of his or her earnings. The amount of the monthly benefit to which the worker is entitled depends upon that earnings record and upon the age at which the retiree chooses to begin receiving benefits.
Read more about this topic: Social Security (United States)
Famous quotes containing the word benefits:
“Through all opposition the personal benefits of the reform [dress] [bracketed word in original] have compensated; but had it been mainly sacrifice, the thought of working for the amelioration of women and the elevation of humanity would still have been the beacon-star guiding me on amid all discouragements.”
—Susan Pecker Fowler (1823–1911)
“It is with benefits as with injuries in this respect, that we do not so much weigh the accidental good or evil they do us, as that which they were designed to do us.—That is, we consider no part of them so much as their intention.”
—Laurence Sterne (1713–1768)
“One of your biggest jobs as a parent of multiples is no bigger than simply talking to your children individually and requiring that they respond to you individually as well. The benefits of this kind of communication can be enormous, in terms of the relationship you develop with each child, in terms of their language development, and eventually in terms of their sense of individuality, too.”
—Pamela Patrick Novotny (20th century)